Wednesday, March 02, 2016 11:36:44 PM
The 1 for 70 is already approved & if done, must be done by 3/31. VPCO has reiterated in EVERY filing recently that they plan to do it, INCLUDING the most recent proxy for an ADDITIONAL RS of 10,000-20,000 for 1.
If the "jumbo RS" is not approved on 3/15, IMO they will immediately execute the 1-70.
There is NO 30 day waiting period! Where does this stuff come from? Don't believe me? The most recent RS was on July 9, 2 days after the vote on July 7th.
The proxy also states they need to be above .01 cent for at least 5 days, not 10, not 30, 5. If & when they get to QB, it will take about 5 minutes for the warrant holders who didn't agree to standstill (me) to resume converting.
VPCO's biggest priority for survival is to pay or settle the warrants. They're lucky if they have $25 million cash & about $75 million is needed. The easiest way they have to do that is to RS the crap out of this & issue shares.
This play is NOT going to April 15.
One final tidbit for anyone looking for a "retracement" to the lofty January levels. Jan high was .64 on Jan 4th. The O/S was 10.3 million then. Today it is 888.9 million. That is a factor increase of 85.7. .64 divided by 85.7 = .0075. Coincidence?
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